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20130121
20130129
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credit default swaps. the auto bailout of gm and chrysler - the obama administration says it saved a million jobs. at his last speech as treasury secretary, geithner defended his efforts. "the actions you took put us in a much better position for whatever is ahead of us." homeowners facing foreclosure say geithner could have done more to modify home loans. and while congress passed some of the toughest restrictions on banking and wall street in decades under the dodd-frank act, geithner's critics say banking risk has only become more concentrated. "he engineered bank mergers that only made them riskier and bigger. the problem is it's done without assurances that they won't repeat the mistakes of the past." the arguments for and against what should be done for financial institutions considered "too big to fail" will no doubt go on, as parts of the dodd-frank act continue to be implimented. the auto industry reports car sales later this week, and despite the winter temps, it's predicted car sales sizzled in january. early indications by jd power show car and truck numbers may roll in
by the obama administration, which blocked progress of the project a year ago. superstorm sandy is taking a toll on corporate america. verizon blamed its $4.23-billion loss on storm costs. travelers insurance company turned a $394-million profit, but that was down from $618 million last year because of hurricane- related expenses. and delta airlines, which cancelled nealry 20,000 flights, had a net income of $7 million, off $425 million from a year earlier. despite near constant pleas for more revenue, the u.s. postal service is being investigated for runaway travel spending. the report comes from the postal service's office of the inspector general and finds that the agency overpaid employee travel expenses by more than $1 million. additionally, it claims that employees used government-issued travel cards for personal travel. the postal service has agreed to the watchdog's recommendations. feeling pressure after the newtown shootings, groupon is halting all gun-related deals. the daily deals company says it is responding to customer pressure and has canceled all planned any existing disc
proven faulty. boeing, the ntsb, and the federal aviation administration are working with electrical suppliers to further investigate the issues. president obama is nominating mary jo white as the next leader for the sec. "if confirmed by the senate, i look forward to using all of my energies working with my fellow commissioners and the extremely dedicated and talented men and women on the staff of the sec." white is a former u.s. attorney and defense lawyer for white- collar crimes on wall street. she famously took down mob boss john gotti. "she's a bit of an unknown on wall street. we know she's a tough prosecutor and she's never been in any kind of financial services job. the sec is more than just prosecuting bad people, it's also a regulatory body, about writing regulations, so i think wall street is going to take a wait- and-see attitude." that was james bianco of bianco research. the president also wants richard cordray to continue his role in leading up the consumer financial protection bureau. legislation that would dramatically change america's gun laws is now on the table.
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